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Panagram Structured Asset Management Announces Launch
June 16, 2021Panagram Structured Asset Management (“Panagram”), an Eldridge business and an SEC-registered investment adviser (“RIA”) specializing in structured credit, today announced its launch. Panagram currently oversees approximately $13.5 billion in assets under management.
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PacWest Bancorp Hires Angela Kelley As EVP, General Counsel And Corporate Secretary
June 16, 2021PacWest Bancorp (Nasdaq: PACW) (the "Company"), announced today the hiring of Angela Kelley as their new EVP, General Counsel and Corporate Secretary. She will also serve as the EVP, General Counsel for Pacific Western Bank, the wholly-owned banking subsidiary of the Company. Mrs. Kelley comes to the Company with over a decade of legal experience primarily in the banking and finance sectors.
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America First Multifamily Investors, L.P. Obtains New $40 Million Line of Credit
June 16, 2021America First Multifamily Investors, L.P. (NASDAQ: ATAX) (“ATAX”) announced today that on June 11, 2021, it closed on a secured revolving Line of Credit facility (“LOC”) of up to $40 million with two lenders, BankUnited N.A. and Bankers Trust Company. BankUnited N.A. also serves as sole arranger and administrative agent. The LOC is secured by ATAX’s equity investments in its Vantage properties portfolio, a first mortgage on its Suites on Paseo MF Property and a bank account held at BankUnited, N.A.
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California Bank of Commerce Provides $4MM Credit Facility with Porcelain Wholesale Reseller
June 16, 2021California Bank of Commerce (CBC) announces the completion of a $4 million asset-based revolving credit facility with a wholesale reseller of porcelain cookware and dinnerware. CBC was initially engaged as the business sought to establish a relationship with an Asset Based Lender better suited to help it navigate its current credit needs and future plans. The credit facility will be used to pay off an existing facility with an incumbent lender and to support accounts receivable and inventory.
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Fifth Third Business Capital Provides $4.5 Million in New Working Capital for World Class Technology Corp.
June 16, 2021World Class Technology Corporation (WCT) designs, manufactures, and markets a full line of proprietary orthodontic products, including self-ligating bracket systems, wires, elastics, buccal tubs, and other orthodontic supplies under its OC Orthodontics brand. WCT and its majority investor, Caltius Equity, requested that Fifth Third refinance existing debt facilities to provide for working capital to fund continued growth and future dividend distributions.
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Kate Farms Closes $30 Million Credit Facility With Pacific Western Bank
June 15, 2021Kate Farms®, the market leader bringing plant-based nutrition into healthcare, announced today that the company has secured a $30 million senior credit facility with Pacific Western Bank to help fuel the company's further growth and expansion. The transaction follows Kate Farms' recent Series B funding round totaling $60 million and led by Goldman Sachs Asset Management, Kaiser Permanente Ventures and Main Street Advisors.
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CIT Serves as Sole Lead Arranger on $33.2 Million Financing for Brooklyn Medical Office Building
June 15, 2021CIT Group Inc. (NYSE: CIT) today announced that its Healthcare Finance business served as sole lead arranger on a $33.2 million loan to finance the acquisition of a medical office building in Brooklyn, New York. The class A medical office building is located at 902 Quentin Road, Brooklyn. Built in 2013, it features eight stories of medical office and academic space and an on-site parking garage.
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Audax Private Debt Provides Financing to Support MSouth Equity Partners’ Investment in Summit Spine & Joint Centers
June 15, 2021Audax Private Debt announced that, as Administrative Agent and Sole Lead Arranger, it provided a unitranche credit facility to support the acquisition of Summit Spine & Joint Centers (“Summit” or the “Company”) by MSouth Equity Partners (“MSouth”), an Atlanta-based private equity firm.
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Wingspire Capital Provides $40 Million Revolver to Corsicana Mattress Company
June 15, 2021Wingspire Capital LLC (“Wingspire”) has provided a $40 million senior secured revolving credit facility to Corsicana Mattress Company as the mattress manufacturer repositions itself for growth. The revolver is part of a broader recapitalization that included the acquisition of Symbol Mattress, which allows Corsicana to further diversify its product offering. Corsicana designs and produces handcrafted mattresses in the United States under brand names including American Bedding, Renue and Nightsbridge.
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Hilco Global and Gordon Brothers Launch New Retail Store Called Shopper’s Find in Former Lord & Taylor Locations
June 15, 2021Hilco Global, the world’s preeminent financial services organization, announced today that its Hilco Retail Solutions platform, in a joint venture with Gordon Brothers, has been working with HBC to launch Shopper’s Find, a new retailer that is opening in former Lord & Taylor locations. Shopper’s Find is the department store for every shopper, offering savings of up to 60% off apparel for women, men, and children, fine jewelry, cosmetics, fragrances, handbags, footwear, designer furs & accessories, home décor, rugs, furniture, small appliances, mattresses, and much more.
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Amerisource Closes $1,500,000 Credit Facility for Video Production Firm
June 15, 2021Amerisource Business Capital announced the closing and funding of a $1,500,000 senior credit facility for a New York based video production firm. The proceeds were used to support the company’s growth.
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INmune Bio, Inc. Announces $15 Million Credit Facility to Purchase Xencor Option to Reduce Future Dilution
June 15, 2021INmune Bio, Inc. (NASDAQ: INMB) (the, “Company”), a clinical-stage immunology company focused on developing treatments that harness the patient’s innate immune system to fight disease, announced today that the Company has entered into a new $15 million credit facility with Silicon Valley Bank (SVB) and an affiliate of SVB Financial Group. INmune intends to use the proceeds from the facility to partially fund the buyout of an option held by Xencor, Inc., resulting from INmune’s in-licensing of XPro1595 (now known by its generic name, pegipanermin) in October 2017.
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Michael Carter Joins Truist Securities to Lead Investment Banking
June 15, 2021Truist Securities today announced that Michael Carter has joined the firm to lead the investment and corporate banking teams and will be located in Atlanta. Carter joins Truist from RBC Capital Markets where he was most recently global head, Technology Investment Banking.
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Apollo Funds Commit up to $500M to Victory Park Capital’s Growth Lending Strategy
June 15, 2021Apollo Global Management, Inc. (NYSE: APO) (together with its consolidated subsidiaries “Apollo”) today announced that entities, clients and funds managed by its affiliates (the “Apollo Funds”) have committed to invest up to $500 million in senior secured credit facilities originated by Victory Park Capital (“VPC”), a global investment firm with an extensive track record in asset-backed credit origination for emerging and established companies.
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eCapital Corp. Appoints Kyle Wilson CPA, CMA as SVP, Sales Director Business Development
June 15, 2021eCapital Corp. (“eCapital”), a leading alternative finance provider in North America to small and medium-sized businesses, today announced that it has named Kyle Wilson as Senior Vice President, Sales Director Business Development. Wilson brings more than 13 years of expertise in commercial financing to this role. He will oversee the business development team for eCapital’s Commercial Finance division in the United States and Canada.
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MUFG Appoints Randall Chafetz as Vice Chairman of Global Corporate and Investment Banking
June 15, 2021Mitsubishi UFJ Financial Group (MUFG) announced today the appointment of Randall Chafetz to the role of Vice Chairman of the firm's Global Corporate and Investment Banking (GCIB) business. Chafetz will assume this newly created role in New York on June 29 and continue reporting to Masato Miyachi, Chief Executive of GCIB. In his capacity as Vice Chairman, Chafetz will lend senior relationship support to MUFG's clients worldwide, including financial institutions, institutional investors and corporate clients. He will also serve in an advisory role for GCIB's leadership around the globe.
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Winston & Strawn Represents Seven Oaks Acquisition Corp.
June 14, 2021Winston & Strawn represented Seven Oaks Acquisition Corp. (“Seven Oaks” or “SVOK”) (Nasdaq: SVOK, SVOKU, SVOKW), a publicly-traded SPAC, in its announced definitive business combination agreement with Boxed, Inc. (“Boxed” or “the Company”; legally known as “Giddy Inc. d/b/a Boxed”), an e-commerce grocery shopping platform selling bulk consumables to households and businesses, which would result in Boxed becoming a public company. The combined company will be called Boxed, Inc. upon the closing of the transaction and is expected to be listed in the U.S. under a new ticker symbol.
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Ceres Global Ag Corp. Announces New $50 Million Term Debt Credit Facility
June 14, 2021Ceres Global Ag Corp. (TSX: CRP) ("Ceres" or the "Corporation") a global agricultural, energy and industrial products merchandising and supply chain company, announced that it has entered into a five-year senior secured $50 million term debt credit facility with the Bank of Montreal ("BMO") that includes a $30 million term loan draw that will be used to retire the Company's term loan with Bixby Bridge Fund IV, LLC ("Bixby") along with an additional $20 million delayed draw committed term loan that will be used to fund future growth projects and initiatives.
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H.I.G. Capital Makes Strategic Growth Investment in Software Firm Cleo
June 14, 2021H.I.G. Capital (“H.I.G.”), a leading global alternative investment firm with $44 billion of equity capital under management, is pleased to announce that an affiliate made a significant investment in Cleo Communications (“Cleo” or the “Company”), a global provider of ecosystem integration software solutions.
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Iron Horse Credit Provides a $6.5 Million Inventory Line of Credit to a Wine and Spirit Importer and Distributor
June 14, 2021Iron Horse Credit (“IHC”), a leading stand-alone inventory lender, is pleased to announce the closing of a $6,500,000 stand-alone inventory revolving line of credit to a wine and spirit importer and distributor.
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Panagram Structured Asset Management Announces Launch
June 16, 2021Panagram Structured Asset Management (“Panagram”), an Eldridge business and an SEC-registered investment adviser (“RIA”) specializing in structured credit, today announced its launch. Panagram currently oversees approximately $13.5 billion in assets under management.
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PacWest Bancorp Hires Angela Kelley As EVP, General Counsel And Corporate Secretary
June 16, 2021PacWest Bancorp (Nasdaq: PACW) (the "Company"), announced today the hiring of Angela Kelley as their new EVP, General Counsel and Corporate Secretary. She will also serve as the EVP, General Counsel for Pacific Western Bank, the wholly-owned banking subsidiary of the Company. Mrs. Kelley comes to the Company with over a decade of legal experience primarily in the banking and finance sectors.
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America First Multifamily Investors, L.P. Obtains New $40 Million Line of Credit
June 16, 2021America First Multifamily Investors, L.P. (NASDAQ: ATAX) (“ATAX”) announced today that on June 11, 2021, it closed on a secured revolving Line of Credit facility (“LOC”) of up to $40 million with two lenders, BankUnited N.A. and Bankers Trust Company. BankUnited N.A. also serves as sole arranger and administrative agent. The LOC is secured by ATAX’s equity investments in its Vantage properties portfolio, a first mortgage on its Suites on Paseo MF Property and a bank account held at BankUnited, N.A.
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California Bank of Commerce Provides $4MM Credit Facility with Porcelain Wholesale Reseller
June 16, 2021California Bank of Commerce (CBC) announces the completion of a $4 million asset-based revolving credit facility with a wholesale reseller of porcelain cookware and dinnerware. CBC was initially engaged as the business sought to establish a relationship with an Asset Based Lender better suited to help it navigate its current credit needs and future plans. The credit facility will be used to pay off an existing facility with an incumbent lender and to support accounts receivable and inventory.
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Fifth Third Business Capital Provides $4.5 Million in New Working Capital for World Class Technology Corp.
June 16, 2021World Class Technology Corporation (WCT) designs, manufactures, and markets a full line of proprietary orthodontic products, including self-ligating bracket systems, wires, elastics, buccal tubs, and other orthodontic supplies under its OC Orthodontics brand. WCT and its majority investor, Caltius Equity, requested that Fifth Third refinance existing debt facilities to provide for working capital to fund continued growth and future dividend distributions.
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Kate Farms Closes $30 Million Credit Facility With Pacific Western Bank
June 15, 2021Kate Farms®, the market leader bringing plant-based nutrition into healthcare, announced today that the company has secured a $30 million senior credit facility with Pacific Western Bank to help fuel the company's further growth and expansion. The transaction follows Kate Farms' recent Series B funding round totaling $60 million and led by Goldman Sachs Asset Management, Kaiser Permanente Ventures and Main Street Advisors.
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CIT Serves as Sole Lead Arranger on $33.2 Million Financing for Brooklyn Medical Office Building
June 15, 2021CIT Group Inc. (NYSE: CIT) today announced that its Healthcare Finance business served as sole lead arranger on a $33.2 million loan to finance the acquisition of a medical office building in Brooklyn, New York. The class A medical office building is located at 902 Quentin Road, Brooklyn. Built in 2013, it features eight stories of medical office and academic space and an on-site parking garage.
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Audax Private Debt Provides Financing to Support MSouth Equity Partners’ Investment in Summit Spine & Joint Centers
June 15, 2021Audax Private Debt announced that, as Administrative Agent and Sole Lead Arranger, it provided a unitranche credit facility to support the acquisition of Summit Spine & Joint Centers (“Summit” or the “Company”) by MSouth Equity Partners (“MSouth”), an Atlanta-based private equity firm.
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Wingspire Capital Provides $40 Million Revolver to Corsicana Mattress Company
June 15, 2021Wingspire Capital LLC (“Wingspire”) has provided a $40 million senior secured revolving credit facility to Corsicana Mattress Company as the mattress manufacturer repositions itself for growth. The revolver is part of a broader recapitalization that included the acquisition of Symbol Mattress, which allows Corsicana to further diversify its product offering. Corsicana designs and produces handcrafted mattresses in the United States under brand names including American Bedding, Renue and Nightsbridge.
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Hilco Global and Gordon Brothers Launch New Retail Store Called Shopper’s Find in Former Lord & Taylor Locations
June 15, 2021Hilco Global, the world’s preeminent financial services organization, announced today that its Hilco Retail Solutions platform, in a joint venture with Gordon Brothers, has been working with HBC to launch Shopper’s Find, a new retailer that is opening in former Lord & Taylor locations. Shopper’s Find is the department store for every shopper, offering savings of up to 60% off apparel for women, men, and children, fine jewelry, cosmetics, fragrances, handbags, footwear, designer furs & accessories, home décor, rugs, furniture, small appliances, mattresses, and much more.
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Amerisource Closes $1,500,000 Credit Facility for Video Production Firm
June 15, 2021Amerisource Business Capital announced the closing and funding of a $1,500,000 senior credit facility for a New York based video production firm. The proceeds were used to support the company’s growth.
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INmune Bio, Inc. Announces $15 Million Credit Facility to Purchase Xencor Option to Reduce Future Dilution
June 15, 2021INmune Bio, Inc. (NASDAQ: INMB) (the, “Company”), a clinical-stage immunology company focused on developing treatments that harness the patient’s innate immune system to fight disease, announced today that the Company has entered into a new $15 million credit facility with Silicon Valley Bank (SVB) and an affiliate of SVB Financial Group. INmune intends to use the proceeds from the facility to partially fund the buyout of an option held by Xencor, Inc., resulting from INmune’s in-licensing of XPro1595 (now known by its generic name, pegipanermin) in October 2017.
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Michael Carter Joins Truist Securities to Lead Investment Banking
June 15, 2021Truist Securities today announced that Michael Carter has joined the firm to lead the investment and corporate banking teams and will be located in Atlanta. Carter joins Truist from RBC Capital Markets where he was most recently global head, Technology Investment Banking.
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Apollo Funds Commit up to $500M to Victory Park Capital’s Growth Lending Strategy
June 15, 2021Apollo Global Management, Inc. (NYSE: APO) (together with its consolidated subsidiaries “Apollo”) today announced that entities, clients and funds managed by its affiliates (the “Apollo Funds”) have committed to invest up to $500 million in senior secured credit facilities originated by Victory Park Capital (“VPC”), a global investment firm with an extensive track record in asset-backed credit origination for emerging and established companies.
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eCapital Corp. Appoints Kyle Wilson CPA, CMA as SVP, Sales Director Business Development
June 15, 2021eCapital Corp. (“eCapital”), a leading alternative finance provider in North America to small and medium-sized businesses, today announced that it has named Kyle Wilson as Senior Vice President, Sales Director Business Development. Wilson brings more than 13 years of expertise in commercial financing to this role. He will oversee the business development team for eCapital’s Commercial Finance division in the United States and Canada.
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MUFG Appoints Randall Chafetz as Vice Chairman of Global Corporate and Investment Banking
June 15, 2021Mitsubishi UFJ Financial Group (MUFG) announced today the appointment of Randall Chafetz to the role of Vice Chairman of the firm's Global Corporate and Investment Banking (GCIB) business. Chafetz will assume this newly created role in New York on June 29 and continue reporting to Masato Miyachi, Chief Executive of GCIB. In his capacity as Vice Chairman, Chafetz will lend senior relationship support to MUFG's clients worldwide, including financial institutions, institutional investors and corporate clients. He will also serve in an advisory role for GCIB's leadership around the globe.
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Winston & Strawn Represents Seven Oaks Acquisition Corp.
June 14, 2021Winston & Strawn represented Seven Oaks Acquisition Corp. (“Seven Oaks” or “SVOK”) (Nasdaq: SVOK, SVOKU, SVOKW), a publicly-traded SPAC, in its announced definitive business combination agreement with Boxed, Inc. (“Boxed” or “the Company”; legally known as “Giddy Inc. d/b/a Boxed”), an e-commerce grocery shopping platform selling bulk consumables to households and businesses, which would result in Boxed becoming a public company. The combined company will be called Boxed, Inc. upon the closing of the transaction and is expected to be listed in the U.S. under a new ticker symbol.
-
Ceres Global Ag Corp. Announces New $50 Million Term Debt Credit Facility
June 14, 2021Ceres Global Ag Corp. (TSX: CRP) ("Ceres" or the "Corporation") a global agricultural, energy and industrial products merchandising and supply chain company, announced that it has entered into a five-year senior secured $50 million term debt credit facility with the Bank of Montreal ("BMO") that includes a $30 million term loan draw that will be used to retire the Company's term loan with Bixby Bridge Fund IV, LLC ("Bixby") along with an additional $20 million delayed draw committed term loan that will be used to fund future growth projects and initiatives.
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H.I.G. Capital Makes Strategic Growth Investment in Software Firm Cleo
June 14, 2021H.I.G. Capital (“H.I.G.”), a leading global alternative investment firm with $44 billion of equity capital under management, is pleased to announce that an affiliate made a significant investment in Cleo Communications (“Cleo” or the “Company”), a global provider of ecosystem integration software solutions.
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Iron Horse Credit Provides a $6.5 Million Inventory Line of Credit to a Wine and Spirit Importer and Distributor
June 14, 2021Iron Horse Credit (“IHC”), a leading stand-alone inventory lender, is pleased to announce the closing of a $6,500,000 stand-alone inventory revolving line of credit to a wine and spirit importer and distributor.
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